Bithumb wins lawsuit over proceeds from 620,000 BTC fat-finger error: report

A South Korean court has ruled in favor of Bithumb in one of four unjust enrichment lawsuits against users who sold bitcoin (BTC) mistakenly credited earlier this year.

On Thursday, the Seoul Central District Court ordered the defendant to return proceeds from the sale of the bitcoin that the crypto exchange erroneously credited, local news outlet Digital Asset reported.

The case, which is the second-largest of the four related civil suits Bithumb filed in March, involved roughly 194 million Korean won ($140,513). The largest one is worth 500 million won ($362,229).

In February, the South Korean exchange accidentally credited 620,000 BTC (then worth around $43 billion) internally to hundreds of users as part of a promotional campaign giveaway. The error reportedly stemmed from a staff member inputting the reward unit as BTC instead of KRW (Korean won).

The incident briefly caused the BTC-KRW pair on the platform to plunge about 15%, affecting a larger pool of users. It also led authorities to launch an investigation into Bithumb, citing a lack of internal controls and risk management.

Meanwhile, Bithumb announced earlier this month that it is targeting to complete an initial public offering in 2028.